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Fly News Breaks for July 22, 2016
MBLY, HAR
Jul 22, 2016 | 07:31 EDT
Pacific Crest analyst Brad Erickson downgraded Harman (HAR) to Sector Weight saying his firm's checks with 33 car deal dealers were negative for the company and mixed for Mobileye (MBLY). Mid-tier car buyers are increasingly opting for lower-cost infotainment systems, which often do not include navigation, Erickson tells investors in a research note. The analyst sees more limited growth opportunities for Harman and views mid-$80s as fair value for the shares.
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